Letko Brosseau & Associates Inc. Makes New $32.30 Million Investment in Builders FirstSource, Inc. $BLDR

Key Points

• Letko Brosseau & Associates acquired 566,569 Builders FirstSource shares in the third quarter, a position valued at about $32.3 million and representing roughly 0.53% of the company.
• Institutional investors own 95.53% of BLDR; several large funds also added or initiated positions, including Pictet Asset Management, which increased its stake by 16.1%.
• Builders FirstSource beat quarterly EPS and revenue estimates, though revenue fell 2.2% year over year. Analysts’ consensus rating is “Hold,” with an average price target of $75.55.

Letko Brosseau & Associates Inc. acquired a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 566,569 shares of the company's stock, valued at approximately $32,300,000. Letko Brosseau & Associates Inc. owned about 0.53% of Builders FirstSource at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BLDR. BlackRock Inc. purchased a new position in Builders FirstSource in the second quarter valued at $700,934,000. Pictet Asset Management Holding SA raised its stake in Builders FirstSource by 16.1% in the third quarter. Pictet Asset Management Holding SA now owns 4,414,163 shares of the company's stock valued at $251,651,000 after buying an additional 613,087 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Builders FirstSource by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company's stock worth $244,301,000 after buying an additional 325,935 shares during the last quarter. M&G PLC purchased a new stake in Builders FirstSource during the 3rd quarter worth about $226,250,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Builders FirstSource during the 2nd quarter worth about $134,908,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Stock Down 3.5%

BLDR stock opened at $60.16 on Friday. The company has a fifty day moving average price of $58.76 and a 200 day moving average price of $78.00. Builders FirstSource, Inc. has a 12 month low of $49.67 and a 12 month high of $131.50. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 162.60, a price-to-earnings-growth ratio of 1.66 and a beta of 1.41. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.85 and a quick ratio of 1.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.45. Builders FirstSource had a net margin of 0.28% and a return on equity of 10.77%. The firm had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the prior year, the business earned $1.88 EPS. Builders FirstSource's quarterly revenue was down 2.2% compared to the same quarter last year. Sell-side analysts expect that Builders FirstSource, Inc. will post 3.85 earnings per share for the current year.

Wall Street Analyst Weigh In

BLDR has been the topic of a number of recent analyst reports. Citizens Jmp began coverage on Builders FirstSource in a report on Friday, August 21st. They issued a "market perform" rating on the stock. Truist Financial raised their target price on Builders FirstSource from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Wells Fargo & Company boosted their target price on Builders FirstSource from $55.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Friday, October 30th. Deutsche Bank set a $66.00 price target on Builders FirstSource in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Builders FirstSource in a report on Monday, October 19th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $75.55.

Builders FirstSource Profile

Builders FirstSource, Inc. supplies building materials and construction services to professional homebuilders, remodelers and contractors in the United States. The company serves customers through a network of locations across the country. Its offerings include lumber, windows, doors, roofing and other building products, as well as manufactured components such as roof and floor trusses, wall panels and stairs. Builders FirstSource also provides services including design support, component manufacturing and jobsite delivery.

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